Frank26
Question: "My denominations are all in 25k notes, would I be able to exchange those?"
Yes you can exchange 25k notes. You can exchange all of the notes.
The only one you can't exchange is the one that has the picture of Saddam on it. Those are called Swiss notes. You don't want those. The other one too is the 50 Iraqi dinar. Those are null and void. They're gone. You can't use those.
Baghdad / Nina / Chairman of the Parliamentary Finance Committee Atwan Al-Atwani discussed with the World Bank delegation headed by Jean-Christophe Carre, Regional Director for the Middle East, on Wednesday, supporting the project of rehabilitating railways and connecting railways from southern Iraq, passing through the north to Turkey, as part of the Development Road project.
A statement from the committee said: “Al-Atwani stressed during the meeting that the infrastructure of the development path will be in the hands of the government so that this important project that connects Iraq with the countries of the world is not subject to influences, and that the development road project is not just a crossing point, but we seek to be a gateway to activate various economic and commercial activities and develop infrastructure.”
Al-Atwani called on the World Bank delegation to “provide new narrations and ideas on achieving the optimal investment of this huge project, which is hoped to make Iraq an economic corridor linking Asia with Europe,” stressing the “need to accelerate the submission of the feasibility study related to the railway sector development plan within the development road project, and contribute to mobilizing international expertise and attracting the private sector to invest in it in the interest of the country, and looking forward to holding joint workshops and expanded meetings with the World Bank, to provide a full briefing on the details of the project and discuss its details to provide broad nemential support for this borrowing.”
For his part, the delegation stressed the readiness of the World Bank team to submit a feasibility study, project path and details by next February.
DINAR GURUS UPDATE
🔍 Preparedness of Banking Institutions: The anecdote from Chase Bank highlights an emerging readiness among financial institutions to handle the dinar exchange. This suggests that banks recognize a potential shift in currency value and are preparing to accommodate customers. This proactive approach may lead to increased trust and participation among dinar holders in the banking system.
⚖️ Potential Currency Devaluation: Pimp’s concerns regarding the discussions about the dinar losing value against the U.S. dollar raise critical questions about the Iraqi economy’s health. Should these discussions materialize into reality, it could lead to a loss of confidence among investors and ordinary citizens in the dinar, ultimately stalling any potential economic recovery or growth.
📅 Legislative Stalemate: Jeff’s observation that parliament has not held sessions since late September indicates significant political stagnation. This delay in legislative processes, especially concerning critical economic laws, further complicates Iraq’s path to stability and growth. The lack of action could signal deeper issues within the political landscape that may need addressing before any economic reforms can take place.
📊 Growth Projections for Non-Oil GDP: The prediction of unprecedented growth rates in Iraq’s non-oil GDP for 2024 is a positive indicator for economic diversification. This could signal a shift from oil dependency, allowing the country to become more resilient to fluctuations in oil prices, thereby fostering a more stable economic environment conducive to investment.
💼 Importance of Banking Sector Confidence: The stress on restoring customer confidence in banks is crucial for getting excess cash back into the financial system. Increased deposits could provide banks with more liquidity, enabling them to offer loans and foster economic growth. This is particularly significant in a country where cash transactions often dominate.
📋 Urgency of Oil and Gas Law Legislation: Mountain Goat’s call for expedited action on the oil and gas law underscores the importance of this legislation in stabilizing Iraq’s economy. This law is not only a constitutional requirement but also necessary for ensuring equitable resource distribution and fostering investment in the sector.
💵 Exchange Readiness of Currency Notes: Frank’s clarification on the exchangeability of various dinar notes, except for certain outdated ones, provides essential information for investors. This detail can influence decisions for those holding dinars, guiding them on which notes to retain or exchange as the situation evolves.
Baghdad – Mil
On Wednesday, the Governor of the Central Bank, Ali Al-Alak, assured all Iraqis that there is no financial problem that threatens the salaries of employees, stressing the availability of large resources.
“There is no financial problem that threatens the salaries of employees and we have great potential and resources,” Al-Alak told the official agency, noting that “the central bank’s reserves are high and able to cover the demand for the dollar.”
He added that “the Federal Bank praised Iraq’s procedures on foreign transfers,” noting that “the mechanism of granting dollars to the traveler secured his access to the beneficiary exclusively.”
He continued, “The parallel exchange rate is no longer an indicative price at all, and our reserves are immune and the central bank is independent,” stressing that “electronic payment is witnessing development and we have the best international systems of infrastructure.”
He pointed out that “we launched the project of establishing a national company for electronic payment and it has reached advanced stages,” adding that “commissions at the ports are not licensed by the Central Bank and we are working to close them and transfer them to exchange companies.”
He continued, “Incoming remittances are subject to the decision to limit dealing in dinars, and we allowed banks to import dollars and we were able to reduce smuggling operations.”
https://miliq.news/economy/41062–.html
MAJEED
“Controversial laws will witness a new movement after the legislative holiday” The controversial law and personal status law will witness a new movement after the legislative holiday Their holiday ends on January 9 By Sunday, they will show up to work to complete these laws to give their citizens their rights … since Iran has no more power over the country and was ( Forced ) to step aside
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Al-Moussawi: Controversial laws will witness a new movement after the legislative
holiday
Information / Baghdad
A member of the Foreign Relations Committee of the House of Representatives, Mukhtar Al-Moussawi, said on Wednesday that the controversial laws will witness a new
.movement after the legislative holiday
Al-Moussawi said in a statement to the Information Agency, "The controversial laws will witness a new movement after the end of the legislative holiday on January 9, as the trends of the large dominant blocs on the parliamentary
'.scene will become clear
He explained that "the legislative process in Iraq suffers from the dominance of the principle of political consensus between the blocs, which leads to the passage of laws based on political deals and trade-offs instead of relying on
".objective discussions that serve the public interest
He pointed out that "this pattern of legislative work makes controversial laws stuck within the so-called "one basket", where the passage of one law is linked in exchange for the
approval of another law, which hinders the passage of the necessary legislation that citizens are waiting for." Over 25/h
DINAR GURUS UPDATE : T he exchangeability of 25,000 dinar notes and the importance of the oil and gas law in Iraq’s socio-economic landscap...